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Jun 20, 2013
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so-so revenues, but analyst called it a turn around in a sign maybe the global economy is turning ? >> i do not agree. i think when revenues drop, there are all sorts of ways that customers as we've seen, that can impact the bottom line, by one, just being mere efficient. -- more efficient, but what a revenue drops with a fedex or ups that is a sign of the economy not only flat lining but continuing to slide down, that is why i think that we're going to be in trouble. you know come next few months. neil: dave, top line thing begins top out, watc watch out. >> a good news-bad news thing with them, revenue was up a little bit but not to expectations, and on that front, i would say, yeah that is not a good signal about the economy. not a big beats. neil: but. down a broad. -- abroad. >> it was down. neil: speaking of a quagmire not getting any less qaagi e . >> you are right. >> here is the thing. using technology to drive costs out. the math they continue to do that, that is a good sign because everything needs to do that. neil: all right, if at first you don't succeed find a better w
so-so revenues, but analyst called it a turn around in a sign maybe the global economy is turning ? >> i do not agree. i think when revenues drop, there are all sorts of ways that customers as we've seen, that can impact the bottom line, by one, just being mere efficient. -- more efficient, but what a revenue drops with a fedex or ups that is a sign of the economy not only flat lining but continuing to slide down, that is why i think that we're going to be in trouble. you know come next...
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Jun 20, 2013
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economy. it's like when the fed used to have an interest rate where they could go one percent and cut another half percent. this is a move like one percent to half percent cuts. the calibration of policy that is making it difficult for people to understand, i think it's like watching the sausage being made. too much information and too much uncertain stay. that said, this is a fed that's also given us an insurance policy. if the economy were to falter, they would increase again if they had to their purchases of large scale as purchase of treasury bonds and mortgage backed securities. >> diane, what do you make of these trends, gold prices going down and interest rates rising. what do you make of that? >> i think they go in contrast to what people would think. we do have inflation decelerating. the gold buy had been one where people were trying to protect themselves somehow by buying gold like my grandmother did when she sewed it into her clothes coming to ellis island. this is an idea that inf
economy. it's like when the fed used to have an interest rate where they could go one percent and cut another half percent. this is a move like one percent to half percent cuts. the calibration of policy that is making it difficult for people to understand, i think it's like watching the sausage being made. too much information and too much uncertain stay. that said, this is a fed that's also given us an insurance policy. if the economy were to falter, they would increase again if they had to...
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Jun 20, 2013
06/13
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people point to the fact that the economy is not doing that well. the job market is better but it is not good but the housing market really recovered. that is because interest rates are so low. if we see interest rates going back up sooner rather than later i think it could take the footing out from under the whole recovery. christian what do you think? >> it could, melissa but i'm not seeing the data on the ground that justifies the volatility that we're seeing in the markets and the incredible erosion of the bond market. you know, what ben bernanke did yesterday was what people have been calling on him to do for a while and that's provide a greater degree of certainty than what the fed has been doing already. really what he said as you alluded to, melissa, what any of us could have predicted. if things con ten to improve, look better, the fed will ease back. we always knew that would be the case. to see such a rationale volatility based on what for me was a very expected response from the fed, is just irrational behavior on the part of the markets
people point to the fact that the economy is not doing that well. the job market is better but it is not good but the housing market really recovered. that is because interest rates are so low. if we see interest rates going back up sooner rather than later i think it could take the footing out from under the whole recovery. christian what do you think? >> it could, melissa but i'm not seeing the data on the ground that justifies the volatility that we're seeing in the markets and the...
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Jun 20, 2013
06/13
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investors try to let gays cells of the economy, not just the u.s., but the global economy. a lot of news, and assault team coverage with nicole petallides. once again standing by the new york stock exchange. a big sell-off. phil flynn at the cme tracking down the commodities, especially metals. jo ling kent is here with a very troubling story about china that we are following, but first to you, nicole. your headline please. >> reporter: to the big deal here is watching the volatility. we had a lot of 200. swings in the last 21 days since ben bernanke and his testimony may 22nd. half of those, ten of the 21 actually had 200. swings. the volatility is here and today you are obviously seeing a bigger move unusual. 350 points to the downside. cheryl: and an unusual move. that is how you would characterize this. >> reporter: absolutely an unusual move. essene the volatility of 10200, but not 350. cheryl: you will get back to you in a moment. phil flynn at the cme. >> reporter: it is a metals meltdown. what temperature doubles milton mack probably when the fed starts talking abou
investors try to let gays cells of the economy, not just the u.s., but the global economy. a lot of news, and assault team coverage with nicole petallides. once again standing by the new york stock exchange. a big sell-off. phil flynn at the cme tracking down the commodities, especially metals. jo ling kent is here with a very troubling story about china that we are following, but first to you, nicole. your headline please. >> reporter: to the big deal here is watching the volatility. we...
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Jun 20, 2013
06/13
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when the economy's bad it increases, when the economy's good, it goes down. the reason we don't have mass starvation is this program is helping tens of millions of american families survive. the facts are, before the 1970s, when we did have the program, we had third world style malnutrition. these programs almost entirely ended hunger in the 1970s. >> that used to be a bipartisan understanding. bob doll is one of the founding fathers of this program. and it used to be a way to help farmers and families. there's a business case for continuing these programs. the biggest recipients of the money. it's all cycled back into the economy. >> no one's saving -- companies like kraft that make the boxed food that's inexpensive to buy, companies like walmart, supermarkets, all plow in the money from these food stamp programs. we also had this interconnectedness of our safety net programs that's going to make this a double problem. feeding america that operates lots of food banks around the country sent out an alert saying, you have kids who get free and reduced lunch be
when the economy's bad it increases, when the economy's good, it goes down. the reason we don't have mass starvation is this program is helping tens of millions of american families survive. the facts are, before the 1970s, when we did have the program, we had third world style malnutrition. these programs almost entirely ended hunger in the 1970s. >> that used to be a bipartisan understanding. bob doll is one of the founding fathers of this program. and it used to be a way to help...
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Jun 20, 2013
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growing more than 20% that is more than double the rate of the economy. so the decision not to inject more cash basically tells the market that liquidity will be tightened to slow down credit growth. patrick at silver crest asset management a long time china watcher says the impact will be serious. he says in a statement to fox business. if the bank of china injections emergency cash into the banking system the next day or so, wealth management products that lent money to banks in the interbank market will start to see massive defaults. he also tells me that he thinks that this will, this will not last for very long but in the end they will see the defaults start happening and chinese government will inject. but they could fix all this by pumping money into the system that would reinforce the runaway credit issue we were talk about earlier. if they pump more money in they risk creating a bigger burden of bad debt. basically the take home.this is self-inflicted. it's a state controlled crisis. it's a risky move for an economy that is already shrinking but
growing more than 20% that is more than double the rate of the economy. so the decision not to inject more cash basically tells the market that liquidity will be tightened to slow down credit growth. patrick at silver crest asset management a long time china watcher says the impact will be serious. he says in a statement to fox business. if the bank of china injections emergency cash into the banking system the next day or so, wealth management products that lent money to banks in the interbank...
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Jun 20, 2013
06/13
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we're now on round three of what i call, you know, pumping money into the economy. they call it quantitative easing. with their noses in the air. each of the new rounds has caused stocks to move higher. starting later this year, the fed will take the drugs away and may cut the addicts off entirely next year. ben white, chief economic correspondent for politico. ben, thank you. so people -- he comes out and says things are getting better. >> and the stock market tanks. >> you say what's wrong with these crazy people on wall street? americans say -- 44% of americans say they're worse off than they were a year ago. >> i think what it means for people who have a house who might want to refinance it, they should probably do it, because interest rates will go higher if the fed stops doing all this drug giving to the economy. so if you're going to refinance, do it now. if you're looking at a new home purchase, do it sooner than later. but in terms of stocks, hold on to them. wait this out. it's going to be crazy while the market tries to figure out when the fed will take t
we're now on round three of what i call, you know, pumping money into the economy. they call it quantitative easing. with their noses in the air. each of the new rounds has caused stocks to move higher. starting later this year, the fed will take the drugs away and may cut the addicts off entirely next year. ben white, chief economic correspondent for politico. ben, thank you. so people -- he comes out and says things are getting better. >> and the stock market tanks. >> you say...
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Jun 20, 2013
06/13
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last year brazil became the sixth largest economy in the world. but income and equality is a huge issue. about one in five people live below the poverty line. demonstrators are protesting in part against billions of dollars being funneled not into education or health care or other basic needs for the population, but into big spectacular events. into stadiums and if a sill advertise being built for brazil to host the world cup and the summer olympics. the cost to host the world cup is estimated to top $13 billion. the protests today around the stadi stadium, this is brazil today a supposed day off from the protests. these have been incredibly dramatic. incredibly big protests. the main organizers say tomorrow is not the day off it will be the day to watch for when everybody should be expected to hit the streets. it's going to be a big news story tomorrow. watch it here. migraines mean powerful pain, and when you have a migraine bayer migraine formula, means powerful relief. its triple action formula targets migraines for relief of the tough pain, a
last year brazil became the sixth largest economy in the world. but income and equality is a huge issue. about one in five people live below the poverty line. demonstrators are protesting in part against billions of dollars being funneled not into education or health care or other basic needs for the population, but into big spectacular events. into stadiums and if a sill advertise being built for brazil to host the world cup and the summer olympics. the cost to host the world cup is estimated...
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Jun 20, 2013
06/13
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it is not a great economy. we have a pickup in housing, we have better gdp numbers although still -- adam: not great. >> no one is forecasting anything above 3%. we have lots of underemployment even if employment is -- unemployment is going down. that is with accommodationist fed policy. what happens if you take that way way? market says if you take that way, don't bet on it. that is bad economy. tracy: should the market not benefit from that, because that will stop qe? >> that is the second phase. the market has a mind. the mind if you stop it which bernanke said he would or probably would if certain things happen which he thinks are happening this is exactly how he said it, all those caveats. tracy: right. >> the market says sell. if janet yellen comes in, all bets are off, i'm printing money you will see the market go up. if they print money as average investor, market goes to 20,000. if they don't print i think we'll get more of this one or the other. adam: charlie gasparino. tracy: thank you very much. cha
it is not a great economy. we have a pickup in housing, we have better gdp numbers although still -- adam: not great. >> no one is forecasting anything above 3%. we have lots of underemployment even if employment is -- unemployment is going down. that is with accommodationist fed policy. what happens if you take that way way? market says if you take that way, don't bet on it. that is bad economy. tracy: should the market not benefit from that, because that will stop qe? >> that is...
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Jun 20, 2013
06/13
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in fact, i think the economy -- the real economy where we spend our time is actually many a little stronger than the numbers show and, again, we talk about a few minutes ago housing is really important. housing has led every recovery to participate in a big way. even bigger than the numbers. housing punches its way because it affects people's attitude. also, ag is doing relatively well. energy. who would have guessed that we would be potentially -- >> peak oil, the whole notion of it, the notion of peak oil, you have 1,000 year's worth now if you take china's reserve and everyone's reserve. >> we have not hit peak hydrocarbon. >> what we know today, we think we have 100 years or so in the u.s. what we might know 20 years from now could be 500. >> the way the information is going, i'm looking at all of this. when computers start designing themselves and everything else, we're going to move on to something else. you didn't run out of stones. >> the key is, we have now figured how to extract it from different types of things. >> right. >> we know there's more energy in the things we can't get
in fact, i think the economy -- the real economy where we spend our time is actually many a little stronger than the numbers show and, again, we talk about a few minutes ago housing is really important. housing has led every recovery to participate in a big way. even bigger than the numbers. housing punches its way because it affects people's attitude. also, ag is doing relatively well. energy. who would have guessed that we would be potentially -- >> peak oil, the whole notion of it, the...
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Jun 20, 2013
06/13
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the economy has been just full every month. $85 billion a month the fed has been pumping into the economy. the fed chief yesterday said, you know, eventually things will be good enough in the job market, et cetera, they'll be able to pull that back, and just that consideration have really spooked global markets. i want to give you a snapshot of how everything around the world is moving. you can see gold prices tumbling here today at a two and a half year low, down to 5%. oil prices are falling below $96 a barrel. the ten-year yield, interest rates are rising right now, and the overseas markets, down 1 to 3%. all but about 100 stocks are lower in the u.s. it has been a widespread reaction basically until the markets get used to the fact that the fed won't be in there forever. there are also jobless claims showing a little higher, showing not as much strength in the jobs market as you would like. that spooked people a little bit. nervous investors. also, this, carol, is the end of the quarter. it's coming up here on the end of the first half of the year, so you've got fund managers saying,
the economy has been just full every month. $85 billion a month the fed has been pumping into the economy. the fed chief yesterday said, you know, eventually things will be good enough in the job market, et cetera, they'll be able to pull that back, and just that consideration have really spooked global markets. i want to give you a snapshot of how everything around the world is moving. you can see gold prices tumbling here today at a two and a half year low, down to 5%. oil prices are falling...